Equities analysts forecast that Concho Resources Inc. (NYSE:CXO) will post $688.96 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Concho Resources’ earnings, with estimates ranging from $607.10 million to $739.00 million. Concho Resources posted sales of $524.58 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.3%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that Concho Resources will report full year sales of $688.96 million for the current year, with estimates ranging from $2.38 billion to $2.66 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.12 billion per share, with estimates ranging from $2.32 billion to $3.45 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Concho Resources.

Concho Resources (NYSE:CXO) last issued its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. The company had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm’s revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS.

A number of equities research analysts have issued reports on the stock. Jefferies Group reissued a “hold” rating and issued a $109.00 price target (down previously from $130.00) on shares of Concho Resources in a report on Tuesday, August 29th. KeyCorp set a $150.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a report on Thursday, October 19th. Barclays raised their price target on shares of Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Morgan Stanley raised their price target on shares of Concho Resources from $152.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Royal Bank of Canada set a $158.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a report on Thursday, August 24th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Concho Resources presently has a consensus rating of “Buy” and an average target price of $152.42.

Concho Resources (NYSE CXO) opened at $136.80 on Friday. The company has a market cap of $20,563.17, a price-to-earnings ratio of 83.31 and a beta of 1.09. Concho Resources has a 52-week low of $106.73 and a 52-week high of $147.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66.

A number of large investors have recently bought and sold shares of the stock. AXA boosted its stake in Concho Resources by 1.6% during the third quarter. AXA now owns 401,060 shares of the oil and natural gas company’s stock worth $52,828,000 after acquiring an additional 6,378 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Concho Resources by 5.5% in the third quarter. Public Employees Retirement System of Ohio now owns 78,905 shares of the oil and natural gas company’s stock worth $10,393,000 after buying an additional 4,091 shares during the last quarter. Davis Selected Advisers raised its holdings in Concho Resources by 150.1% in the third quarter. Davis Selected Advisers now owns 136,047 shares of the oil and natural gas company’s stock worth $17,923,000 after buying an additional 81,649 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in Concho Resources in the third quarter worth about $584,000. Finally, Sterling Capital Management LLC raised its holdings in Concho Resources by 2.1% in the third quarter. Sterling Capital Management LLC now owns 43,119 shares of the oil and natural gas company’s stock worth $5,680,000 after buying an additional 900 shares during the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.

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Concho Resources Company Profile

Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.

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Earnings History and Estimates for Concho Resources (NYSE:CXO)

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